Alright, so I took a chance and in the last couple minutes of the trading day I gambled nearly all of my money that hasn’t been lost on CMG and JCP already.
The market has been down a lot. Is this a trend? I don’t want to fight any trend, so I’m not ready to pick up calls yet, but I’m really prepared for it. I’ve been waiting to buy calls in a few high dollar stocks, just looking to make a scalping-type profit.
First, a reminder to myself: don’t hold RIMM put through RIMM earnings on Thursday. OK, now onto the day’s predictions or guesses or incorrect thoughts.
I won’t be taking any trades, most likely, today. I sold my GOOG position this morning, which was dumb. I avoided making $500 so that I could make $50. Not the sign of a good trader, but thankfully the website name matches.
Today was good for me. I haven’t been fighting trends like I have in the past. I think that it’s a function of remembeing what’s expected to happen. Though I was way off with my initial DJI prediction for the close of the market, it didn’t seem to bite me in the backside.
It’s always a bet when it comes to GOOG. That’s why I like and hate to play GOOG options. I’ve actually been on the wrong side of a GOOG option and lost more money than a teenager at the Bunny Ranch. So this time, I’ll keep a quick stop and hope that GOOG goes with me.
The market dropped yesterday. Fed cut 25 points, apparently the traders thought that it wasn’t enough. Traders are a wild bunch, so watching the action was almost as much fun as watching my AAPL position gain $625 profit. I didn’t close my position, yet, though.
The Fed will be talking today, giving their decision on if they will lower the key interest rate at this time. There’s a lot of talk and guessing going into this subject. I know the answer because I have a glass ball (not a cancer-replacement, I mean something for looking into the future). The answer is the Fed will …
